Podcast #3: What is The Partnership Resource's PROCESS? What is the first step?

Michael: So can you talk to us then a little bit about, like, what do you do? You know, I’m a solo advisor, you know, I’ve been going to my local FPA chapter meetings for a while, I’ve met another advisor in the area, I get on well with her, she gets along well with me, we’re thinking about working together and forming a partnership. We have no idea what we’re actually getting into because neither of us has been in a partnership before. So, you know, we call Tanya and say, “We’re thinking about doing a partnership, we don’t want to screw this up. So help us.” Like, what do you do? What would the process be from there? How would you work with us going forward?

Tanya: Right. So after we talk a little bit about what you’re looking for, we did try to create a process around getting the partners to know each other better so that they could make the decision about whether or not this is a good fit that will go the distance because that’s the goal. I’d like to see those statistics improve over time.

So the first step would be, you know, an assessment and discovery phase. So I would have all the partners take a psychometric assessment. I use TTI DISC behaviors and Driving Forces. So this is…you know, there are many assessments out there. Maybe some people are skeptical about assessments, but I find them to be an extremely revealing tool to give people a lot of self-awareness about how they like to behave on the job and what motivates them on the job. So it gives each partner a lot of information about, “This is who I am. This is how I like to behave. This is the best way to communicate with me.” And then they get the same information about their partner.

And then I can overlay it and kind of compare it and show them, “This is where you are naturally compatible. This is where…without doing anything, this is where you’re going to have the greatest comfort zone in working together, and this is where you’ll kind of have some complementary behaviors that maybe you can capitalize on when you go to assign roles and responsibilities in the partnership. And then here are your values, and here’s where you’re really well aligned and then here’s where you’re not as well aligned and you might need some extra awareness about that.” So that kind of gives us a starting point, at least, of having the conversation of, “This is who you are, this is who your partner is, how does that line up?”

Michael: So you mentioned two assessment tools in there, DISC and Driving Forces. So, you know, I suspect at least a few advisors are aware of DISC because it’s been used in the hiring context for some firms. I suspect many are not and probably none of us are aware of Driving Forces. So can you talk about those a little bit more? Like, what is DISC? What does it measure? Like how do I understand what kinds of results or information I’m going to get? And then likewise for Driving Forces, like, what are these?

Tanya: Okay. So DISC is an acronym. It stands for dominance, influence, steadiness, and compliance. And this is based on research that’s been around since the 1930s. And it’s the idea that everyone has these traits in different levels. The organization that I use to get these assessments from, they say that a DISC assessment is done somewhere in the world every seven seconds. And they use these results, they have tested these results continuously, so I know that there’s a high level of confidence in these results. But basically, you can find out whether you are the type of person who is more determined and competitive or less. Whether you’re the kind of person who is more magnetic and enthusiastic or less, more steady or less, or whether you’re more careful and concise or less.

But it’s really the interplay that’s interesting about whether people who are, they call it if you have a lot of the influencing you’re called a high I. And two people who are high I are naturally compatible with each other. They’re just usually a high level of natural…

Michael: Okay. Just, like, you get some happy, enthusiastic people together, they just tend to be happy, enthusiastic together.

Tanya: Right. They get a lot of energy from spending time together. You know, those type of people naturally trust each other. They just naturally want to spend time together. I mean, of course, there’s the other side of the coin. There’s a possibility that they might waste time together because they spend so much time socializing.

Michael: And they’re just having fun. Yeah.

Tanya: Yep. I mean, so you’re just kind of, like, bringing to light some of these dynamics. And none of it has any judgment to it. It’s not good or bad, it’s just you’re bringing to light some of these dynamics. And for the behaviors, you probably could observe these on your own and make some determinations, but really, if you have more than two partners and you have all this information, it can be very helpful to kind of compile all the different twosomes in the partnership how they’re all going to be working together. And especially when you get down the road of thinking about all the different roles the different partners couldn’t have it and having this information about who could be best at what and who would be best suited for what, it gives a lot of information to that conversation.

Michael: So it’s not even just, like, general compatibility. You can start doing, you know, role assignments, “Hey, you’re the high I, you’re the really talkative, enthusiastic one so great, you know, you can help focus on our marketing and our PR efforts and our external stuff. I’m, you know, the compliance, detail-oriented person so, like, I’ll do the operation. I’ll oversee the operations duties. I’ll wear the COO hat in our partnership because that’s my skill set and style.”

TAGS: values, compatibility


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